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Orange Company had the following transactions and uses a perpetual inventory system: March 1st: Bought $5,300 worth of inventory from Brown Corp on account March
Orange Company had the following transactions and uses a perpetual inventory system: March 1st: Bought $5,300 worth of inventory from Brown Corp on account March 5th Successfully returned $300 worth of product to Brown Corp March 25th Paid Brown Company in full What is the journal entry on March 25th that Orange Corp would record: Accounts Payable Sales Discounts A. Cash $5,300 $300 $5,000 Accounts Payable Cash B. $5,000 $5,000 Inventory Sales Return Cash $5,300 $300 $5,000 OC. Cash $5,300 $5,300 Accounts Payable D
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